Paylocity Holding Corporation (NASDAQ:PCTY) SVP Sells $303,462.58 in Stock

Paylocity Holding Corporation (NASDAQ:PCTY - Get Free Report) SVP Andrew Cappotelli sold 1,717 shares of the firm's stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $176.74, for a total value of $303,462.58. Following the sale, the senior vice president now owns 11,953 shares in the company, valued at approximately $2,112,573.22. The trade was a 12.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Paylocity Stock Performance

Shares of NASDAQ PCTY traded down $7.12 during trading on Wednesday, reaching $175.50. The stock had a trading volume of 859,023 shares, compared to its average volume of 456,466. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.13 and a current ratio of 1.13. The stock has a market cap of $9.69 billion, a PE ratio of 43.77, a P/E/G ratio of 3.62 and a beta of 0.53. Paylocity Holding Corporation has a one year low of $129.94 and a one year high of $223.80. The firm's 50 day moving average price is $189.21 and its two-hundred day moving average price is $194.74.

Paylocity (NASDAQ:PCTY - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The software maker reported $2.43 EPS for the quarter, topping analysts' consensus estimates of $2.09 by $0.34. The firm had revenue of $454.55 million during the quarter, compared to the consensus estimate of $441.77 million. Paylocity had a net margin of 14.65% and a return on equity of 22.90%. The firm's revenue was up 13.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.21 earnings per share. On average, research analysts forecast that Paylocity Holding Corporation will post 4.36 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in Paylocity by 7.0% in the first quarter. Vanguard Group Inc. now owns 4,312,832 shares of the software maker's stock worth $807,966,000 after acquiring an additional 283,430 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Paylocity by 3.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,287,514 shares of the software maker's stock worth $803,224,000 after purchasing an additional 141,705 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its position in Paylocity by 0.3% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 3,987,037 shares of the software maker's stock valued at $746,932,000 after purchasing an additional 13,027 shares during the period. Invesco Ltd. grew its stake in Paylocity by 31.7% during the 4th quarter. Invesco Ltd. now owns 1,332,213 shares of the software maker's stock worth $265,737,000 after buying an additional 320,319 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in Paylocity by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 1,073,988 shares of the software maker's stock worth $214,275,000 after buying an additional 25,182 shares during the last quarter. 94.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PCTY has been the subject of several recent research reports. Citigroup lowered their price objective on shares of Paylocity from $246.00 to $225.00 and set a "buy" rating for the company in a research report on Tuesday, April 29th. Needham & Company LLC restated a "buy" rating and issued a $250.00 target price on shares of Paylocity in a research note on Friday, May 2nd. UBS Group raised their price target on shares of Paylocity from $195.00 to $200.00 and gave the company a "neutral" rating in a report on Friday, May 2nd. Stifel Nicolaus cut their price objective on shares of Paylocity from $250.00 to $235.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Finally, KeyCorp decreased their price objective on shares of Paylocity from $250.00 to $220.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, Paylocity has an average rating of "Moderate Buy" and an average price target of $224.75.

Paylocity Company Profile

Paylocity Holding Corporation engages in the provision of cloud-based human capital management and payroll software solutions for workforce in the United States. The company offers payroll software solution for global payroll, expense management, tax services, on demand payment, and garnishment managed services; and time and labor management software for time and attendance, scheduling, and time collection.

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